Updated April 08, 2022
A Virginia unsecured promissory note pairs a lender and borrower into a legal promise based on the lending of a monetary balance. The borrower in the agreement is required to reimburse the lender in a timely and structured fashion as dictated by the template. This template is unsecured, leaving the lender with a greater risk of losing the loaned balance. Only lending to family and friends that can be trusted is a sound strategy to reduce the lending risk.